For administrative purposes, it is divided between Qikiqtaaluk and Kitikmeot regions.

Ommanney Bay is named after Admiral Sir Erasmus Ommanney of the Royal Navy who explored the area as part of the search for the Franklin Expedition.

Its European discovery came in 1851 by Francis Leopold McClintock's sledge parties during the searches for John Franklin's last expedition.

[2] McClintock, along with Sherard Osborn and William Browne, charted the northern half of the island.

[3] It was named after Albert Edward, eldest son of Queen Victoria, then ten years old and Prince of Wales.